Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 8.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 115,861 shares of the information services provider’s stock after selling 11,300 shares during the period. Alphabet accounts for approximately 1.4% of Cullinan Associates Inc.’s holdings, making the stock its 14th biggest position. Cullinan Associates Inc.’s holdings in Alphabet were worth $22,065,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in GOOG. Pinnacle Bancorp Inc. lifted its position in shares of Alphabet by 24.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 18,520 shares of the information services provider’s stock valued at $3,096,000 after acquiring an additional 3,582 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in shares of Alphabet by 0.3% in the 3rd quarter. Contravisory Investment Management Inc. now owns 50,806 shares of the information services provider’s stock valued at $8,494,000 after acquiring an additional 142 shares in the last quarter. Watts Gwilliam & Co. LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at approximately $6,866,000. Private Advisory Group LLC lifted its position in shares of Alphabet by 7.6% in the 3rd quarter. Private Advisory Group LLC now owns 182,335 shares of the information services provider’s stock valued at $30,485,000 after acquiring an additional 12,919 shares in the last quarter. Finally, Westwind Capital lifted its position in shares of Alphabet by 381.6% in the 3rd quarter. Westwind Capital now owns 119,328 shares of the information services provider’s stock valued at $19,950,000 after acquiring an additional 94,550 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

NASDAQ:GOOG opened at $187.14 on Friday. The company has a 50-day moving average of $192.78 and a 200-day moving average of $176.15. The company has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.32 and a beta of 1.00. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $208.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Analysts Set New Price Targets

Several research firms have weighed in on GOOG. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Wells Fargo & Company upped their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Barclays increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Scotiabank raised their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Check Out Our Latest Research Report on GOOG

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,529 shares of company stock worth $16,600,078 in the last quarter. 12.99% of the stock is owned by corporate insiders.

About Alphabet

(Free Report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Read More

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.